Dubai’s Limitless Holds “Positive” Talks On Debt Restructuring – CEO

The discussions were centred on re-negotiating the terms of the debt, the chief executive said without giving any further details.

Dubai’s DIFC Plans $700m Sukuk Issue By End-October: Governor

Proceeds from the issue will be partly used to refinance existing debt as well as provide cash for infrastructure investment.

Dubai Bourse To Rise on Drake & Scull Contract Win

Stock markets around the world closed nearly flat on Friday but a major source of uncertainty is now gone after Scotland voted ‘No’.

Kuwait Investment Authority To Expand Germany Investments

Kuwait has invested almost $18 billion in Germany.

UAE’s Ithmar Capital Picks Credit Suisse, Deutsche Bank For $436m Dubai IPO

The proceeds will be used to invest in healthcare and education assets, according to sources.

Etihad Airways To Raise $2bn In 2014 To Fund Stake Buys, Aircraft

The funds would be raised through loans, the airline’s chief financial officer confirmed.

Abu Dhabi’s Mubadala Posts 23% Profit Rise On Higher JV Income

Income from Mubadala’s joint venture businesses doubled to Dhs2.12 billion, thanks to Emirates Global Aluminium and Dolphin Energy.

Dubai Regulator Imposes Curbs On Local Espirito Santo Bank

ES Bankers (Dubai), part of Espirito Santo group, has been restricted from taking or paying deposits, and is required to maintain and preserve its assets, the DFSA said.

Middle East Banks Buy Vast Majority Of Landmark Goldman Sachs Sukuk

Middle East investors bought 87 per cent of the Goldman sukuk, while 11 per cent went to Europe and two per cent to Asian investors, a document from lead arrangers showed.

Abu Dhabi’s Waha Capital To Buy Back Up To 10% Of Stock

Waha said the programme, approved by its board on Wednesday, would allow it to repurchase up to 194 million shares.

Emaar Says Shareholders To Get One Share In Malls IPO For Every 36 Held

Emaar is aiming to sell two billion shares in EMG, representing 15.4 per cent of the unit’s share capital.

GCC Banks Record Strong Growth Despite Low Interest Rates

Improving asset quality and falling credit losses have offset the downside of lower net interest margins, Standard & Poor said in a report.

Dubai Lender Mashreq Sets Sights On Egypt And Turkey, Says CEO

Mashreq also has no interest in any of Standard Chartered’s UAE operations, CEO Abdul Aziz al-Ghurair said on the sidelines of a company event in Dubai.

Saudi Arabia To Allow OTC Trade Of Shares In Suspended Or Delisted Firms

The Capital Market Authority has issued rules covering such trade and will immediately start receiving requests from companies to conduct it, the authority said.

Zain Bahrain Extends IPO Subscription Period By Two Weeks

No reason was given in the statement for the extension, which moves the closing date for investors to buy shares in the initial public offer to September 30.

Stock News: Emaar Malls IPO May Temporarily Take Away More Money From Dubai

Emaar Properties said that institutional investors had fully subscribed to their tranche of the $1.58 billion IPO of EMG.

New UAE Rules Aim To Develop Local Currency Bond, Sukuk Markets

The Securities and Commodities Authority (SCA) has outlined rules to make it faster and cheaper for firms to issue conventional and Islamic bonds.

Saudi Corporate Earnings Growth Set To Jump Before Bourse Opening

The combined net profits of Saudi Arabia’s leading companies are expected to rise 17 per cent in 2014.

Saudi’s Savola Says JP Morgan To Advise On Possible Stake Buy In Americana

Savola said in August it had held preliminary talks with one of Americana’s largest shareholders about buying a stake in the firm.

Bahrain’s Investcorp Buys U.S. Real Estate Assets For Around $250m

The properties are in Durham, North Carolina, Seattle in Washington, and Jacksonville in Florida, the company said in a statement.

Dubai’s Arabtec Says Unaware Of Potential Stake Sale By Ex-CEO

Arabtec said it “does not have the information” on such a deal, it said in a bourse statement.

Dubai’s Emaar Says First Tranche Of Malls IPO Already Covered

Emaar is aiming to raise as much as Dhs5.8 billion ($1.58 billion) from the offer of shares in Emaar Malls Group (EMG).

Qatar National Bank Lifts Ecobank Stake In $283m Deal

The purchase comes after QNB acquired a 12.5 per cent stake in Ecobank from Nigerian “bad bank” Asset Management Company of Nigeria (AMCON) this month.

Ex-CEO Of Dubai’s Arabtec Agrees To Sell Stake To Aabar

Sources say that Hasan Ismaik has finalised the sale of stake in Arabtec to Aabar and the deal will be announced soon.

Islamic Lender Turkiye Finans Eyes Presence In Bahrain

No details were given on the timeframe to start operations or what type of licence was being sought to establish in Bahrain.

Kuwait’s KNPC Names NBK Finance Advisor For $12 bn Refinery Upgrade

The Clean Fuels Project will upgrade and expand two of the Gulf Arab state’s largest existing refineries with a focus on producing diesel and kerosene for export.

UAE Salaries To Rise 4.8% In 2015

Salaries across the GCC are predicted to rise by five per cent in 2015, according to Aon Hewitt.

Empower

Dubai’s Empower Secures $127.8m Islamic Loan

The loan will be used to fund Empower’s multi-plant district cooling network in Dubai’s Business Bay area, the company said in a statement.

Saudi’s Savola Says To Sell Stake In Property Project For $158.3m

The company will sell its 30.4 per cent holding in the Masharef project to Kinan International Company for Real Estate Development.

Dubai’s Emaar Looks To Raise $1.58 bn From Malls Unit’s IPO

Emaar expects to sell two billion in Emaar Malls Group with a price range of Dhs2.50 to Dhs2.90 per share, it said in a statement.